December 2015

Found 33 blog entries for December 2015.

Today's the big day for the Citrus Bowl parade in downtown, so plan your travel time in and out accordingly.

If you're not sure about traffic patterns downtown related to the parade, check out the street closing times here at wesh.com.

Now, let's start this morning with an interesting item from Forbes, which named Orlando as one of the top "Cities Doing the Most to Address the U.S. Housing Shortage."

Forbes notes that nationwide, there is an undersupply of new housing, but some metros are doing better than others at meeting demand.

Orlando is No. 5, with 19,306 permitted multifamily units, trailing only Charlotte, Houston, Raleigh and Austin in the rankings, which were created by looking at the number of building permits for single and

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The National Association of Realtors (NAR) released their latest Existing Home Sales Report which covered sales in November. The report revealed that sales:

“…fell 10.5 percent to a seasonally adjusted annual rate of 4.76 million in November (lowest since April 2014 at 4.75 million)…”

That revelation gave birth to a series of industry articles, some of which quoted pundits questioning whether the housing market was slowing. In actuality, there is one rather simple explanation to much of the falloff in sales last month. It is likely the implementation of the “Know Before You Owe” mortgage rule, commonly known as the TILA-RESPA Integrated Disclosure (TRID) rule, which went into effect on October 3. These regulations caused house closings to be

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There is a housing shift occurring in the investment market. Major investors are gravitating toward purchasing new homes for rental use.

During the housing crash, big investors stocked up on thousands of foreclosed properties for single-family rentals with intentions of selling them when home prices recovered. But they didn’t.

Now that the housing market is recovering, foreclosures are low and prices are up, but investors are not selling their properties.

Instead, NBC News says “they are buying more, and now they are buying new.”

“That fruit—cheap foreclosures—offered investors a relatively low-risk play, because they could buy homes at well below the cost of replacement, and not only would they see rental revenue but also property price

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bank-owned-twoREO sales are down by 80 percent from their peak six years ago, but there are still plenty of affordable buying opportunities for homebuyers, according to acommentary by Chris Bowden, Freddie Mac's SVP ofHomeSteps, the GSE's real estate sales unit.

About 6 percent of all residential home sales in June 2015 were REO sales, compared with their January 2009 peak of 27.6 percent, according to the latest data from CoreLogic, a decline of about 80 percent. Today's low mortgage rates, which are hovering around 4 percent, provide more opportunities for investors and other buyers seeking an affordable home option. Bowden reminds potential buyers that while buying an REO property is very similar to buying any other house, there are four tips to

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Make sure you have a sense of how you measure up in these four key ways before you start the house hunt.

When it comes to deciding on a home to purchase, the list of things to consider can be lengthy. But while you might be comparing square footage, finishes, and neighborhoods, mortgage lenders are looking at the specific numbers that make up your financial picture with the same discerning eye.

These numbers will not only impact your ability to buy that home for sale in Santa Fe, NM, but they will also measure your buying power.

1. Credit score

Your credit score is one of the most basic ways a lender can determine your creditworthiness, or your ability to pay your loan on time every month. Five key factors impact your score, each varying

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foreclosure-keysSome foreclosure metrics have long been approaching or below pre-crisis levels. Foreclosure starts reached a new low in November, however, falling to their lowest level in nearly 10 years, according to Black Knight Financial Services’ First Look at Mortgage Data for November 2015 released Wednesday.

November’s total of 66,600 foreclosure starts was the lowest total for one month since April 2006, about two and a half years before the beginning of the housing crisis. The total represents a 9 percent decline from October and nearly a 10 percent decline from November 2014, according to Black Knight. Foreclosure inventory was also way down in November, falling by about 185,000 properties year-over-year down to about 698,000—or approximately 1.38

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WASHINGTON (Reuters) - U.S. home resales posted their sharpest drop in five years in November, a potential warning sign for the health of the U.S. economy although new regulations on paperwork for home purchases may have driven the decline.

The National Association of Realtors said on Tuesday existing home sales plunged 10.5 percent to an annual rate of4.76 million units. That was the sharpest decline since July 2010. October's sales pace was revised slightly lower to 5.32 million units.

Housing has been providing a sizable boost to U.S. economic growth this year as a strengthening labor market and low interest rates have helped young adults to leave their parents' homes.

Economists had forecast sales rising to a rate of 5.35 million units last

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The National Association of Realtors (NAR) reported on Tuesday that existing-home sales dropped off in November to an annual rate of about 4.76 million, the slowest pace in 19 months.

November’s decline represented a 10.5 percent drop from October’s downwardly revised total of 5.32 million, and the sales pace for November was the lowest since it was reported at 4.75 million in April 2014. November’s pace is now 3.8 percent lower than November 2014, marking the first time the existing- home annual sales pace declined year-over-year since September 2014.

One of the major drivers of November’s dropoff in the pace of existing-home sales is likely the implementation of the “Know Before You Owe” mortgage rule, commonly known as the TILA-RESPA Integrated

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Selling Your House? 5 Reasons You Shouldn't For Sale By Owner | Keeping Current Matters

In today's market, with homes selling quickly and prices rising, some homeowners might consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons this might not be a good idea for the vast majority of sellers.

Here are five of those reasons:

1. There Are Too Many People to Negotiate With

Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner:

  • The buyer who wants the best deal possible
  • The buyer’s agent who solely represents the best interest of the buyer
  • The buyer’s attorney (in some parts of the country)
  • The home inspection companies, which work for the buyer and will almost always, find some
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How Long Does It Take To Save A Down Payment? | Keeping Current Matters

In a recent study conducted by Builder.com, researchers determined that nationwide it would take “nearly eight years” for a first-time buyer to save enough for a down payment on their dream home.

Depending on where you live, median rents, incomes and home prices all vary. By determining the percentage a renter spends on housing in each state and the amount needed for a 10% down payment, they were able to establish how long (in years) it would take for an average resident to save.

According to the study, residents in South Dakota are able to save for a down payment the quickest in just under 3.5 years. Below is a map created using the data for each state:

Years Needed to Save 10% Down | Keeping Current Matters

What if you only needed to save 3%?

What if you were able to take advantage of one

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